Description
The global regenerative market is estimated to reach USD 67.6 billion by 2019 , from USD 16.4 billion in 2014 , growing at a CAGR of 23.2 %. Small molecules and biologics show immense potential in the market and are estimated to grow at a CAGR of 18.9 %. Regenerative medicines have the ability to restore the lost functionality of tissues or organs , unlike conventional medicines which are palliative .
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Global Regenerative Medicines Market- Market Dynamics There are several factors driving and restraining the global regenerative medicines market . Some of these are listed below .
Drivers Technological innovations in stem cell therapy and tissue engineering Growing prevalence of bone and joint diseases Growing need of orthopedic surgeries Increasing awareness Advancements in nanotechnology Increased in innovation in stem cell therapy
Restraints Rules laid down by regulatory bodies Ethical issues related to regenerative medicines Cost of the treatment .
The market is segmented on the basis of technology , applications , and geography . By technology , the market is divided into stem cell therapy , biomaterial , and tissue engineering . By type of applications , the market is segmented into bone graft substitutes , osteoarticular diseases , central nervous system and cardiovascular . By geography , the market is segmented into North America , Europe , Asia-Pacific , and Rest of the World . North America and Europe account for more than three-fourths of the revenue in 2013 . However , technological advancement and research emphasis are growing in the Asia-Pacific region , so this is going to be a potential market for regenerative medicines .
Some of the key players in the market are : Anika Therapeutics , Inc . Arthrex , Inc . Baxter International , Inc . CONMED Corporation DePuy Synthes , Inc . Medtronic , Inc .
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